After falling behind after just two minutes when Troy Deeney fired a penalty past Darren Randolph, the Hammers showed all their fighting qualities to find a way back into the game and Club record signing Andre Ayew netted the crucial equaliser.
It could have easily been all three points for the Bilic's side as they dominated the second half and had a number of chances to get on the scoresheet.
The Hammers boss was unhappy with the late dismissal of Michail Antonio, but says he was more focused on taking the positives from the game and felt his team showed more quality throughout the ninety minutes.
Bilic said: “Considering the way we played I think we deserved more than a point from the way that we played through the whole game.
“I told the guys at the end that okay it was a good point and a great performance in the second half but we cannot start like that, especially away and it is hard to turn the game around.
"If I was Watford manager, I was after a penalty. Mauro Zarate went down very easy. If that was given then I'm expecting the same for us. But it didn't have to be, of course, it was not blatant.
“The red card - OK, I just spoke to the referee. He had a good game. It was a difficult game. “Although Michail Antonio's reaction is an instinctive one he din't stop them gaining anything. He acted by the book and the book says it is a red card.
“In the second half it was all us until the end of the game when they had a good chance, but I am so glad how we came back in the second half and we deserved at least a point. We were excellent.
“This is a good point because it is hard to come from behind. But in terms of which team showed more quality, it was definitely us.”
Bilic had nothing but praise for the way Ayew has overcome a frustrating start to his Hammers career and grabbed his second goal for the Club following his return from a long-term groin injury.
The Hammers boss feels the Ghana international is now getting back to his best form and will grow even stronger over the coming weeks and months.
Bilic added: “We have to praise Ayew from the bench. He got a big injury in his first game against Chelsea. He has come back from the African Cup and is looking back to his best.
“We have enough quality and we showed that today.”